Flowco (NYSE:FLOC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flowco (NYSE:FLOC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other research firms also recently issued reports on FLOC. Jefferies Financial Group reiterated a “buy” rating and set a $30.00 target price on shares of Flowco in a research report on Monday, February 2nd. BMO Capital Markets lifted their price target on shares of Flowco from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flowco in a report on Friday, January 9th. Piper Sandler increased their price objective on shares of Flowco from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. Finally, Zacks Research raised Flowco from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.25.

Flowco Price Performance

Flowco stock opened at $21.86 on Friday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.53 and a beta of -0.16. Flowco has a 52-week low of $14.03 and a 52-week high of $26.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.42 and a current ratio of 3.34. The stock’s 50 day moving average price is $22.03 and its two-hundred day moving average price is $18.59.

Flowco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, February 13th. Flowco’s payout ratio is 27.12%.

Insider Buying and Selling at Flowco

In other Flowco news, EVP Chad Roberts sold 54,706 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.39, for a total value of $1,224,867.34. Following the transaction, the executive vice president directly owned 67,008 shares of the company’s stock, valued at approximately $1,500,309.12. This trade represents a 44.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 134,790 shares of company stock valued at $2,878,137 over the last 90 days.

Institutional Investors Weigh In On Flowco

A number of institutional investors and hedge funds have recently made changes to their positions in FLOC. Invesco Ltd. lifted its position in Flowco by 15.2% in the 4th quarter. Invesco Ltd. now owns 61,268 shares of the company’s stock valued at $1,148,000 after acquiring an additional 8,074 shares in the last quarter. VARCOV Co. bought a new stake in Flowco during the 4th quarter worth approximately $199,000. Wellington Management Group LLP purchased a new stake in shares of Flowco in the fourth quarter worth approximately $12,753,000. Man Group plc lifted its holdings in shares of Flowco by 26.7% in the fourth quarter. Man Group plc now owns 73,181 shares of the company’s stock valued at $1,371,000 after purchasing an additional 15,443 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in shares of Flowco by 21.8% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,503,216 shares of the company’s stock valued at $28,170,000 after buying an additional 268,903 shares during the last quarter.

About Flowco

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.